Can women managers reduce your business risk?

Would the world economy have got into such a mess if more women had been in charge - is a difficult question to answer.

The economic crisis, though, could put a spotlight on what women offer as leaders who could help repair the damage.

We'd love to think it would make a difference, said Ruth Sealy,deputy director of the International Center for Women Leaders atCranfield University.

Sealy said the crisis is bringing to light academic research, whichincludes studies showing that mixed management teams make betterdecisions and are more innovative.

Goal-driven (mostly male) management teams in the financial servicesindustry have been blamed for a culture of excessive risk-taking thathas crippled the global banking system.

Would greater gender balance in decision-making have produced adifferent outcome? Probably, said Alice Eagly, Professor and Chair ofPyschology at Northwestern University.

Psychological research suggests that women are somewhat less willing than men to take extreme risks.

In management-speak, men's leadership style is known as transactional which is basically carrot and stick.

This approach is considered old-fashioned in some academic circlesand deemed ill-suited to cutting-edge companies, where managementstructures are flatter and less hierarchical.

Women's management style is characterized as more relationship-based that aims to encourage and empower.

Putting the two together provides a more balanced mix.

Research from London Business School supports the fact that an equalmale/female split in a management team is best for promoting innovationin teams, said Elisabeth Kelan, who helped set up the Center for Womenin Business at the School.

Women executives say having to handle a family as well as a career gives them skills which can be useful in management.

The differences between female and male leaders from my perspectiveare that women leaders usually have more emotional intelligence,teamwork and interpersonal skills, said Dora Liu, a partner infinancial services at Deloitte Touche Tohmatsu, based in Shanghai.

Usually they have a more balanced work/life style which is why women tend to have more emphasis on We versus Me.

But it's hard to change attitudes and overcome stereotypes.

It's still 'Think manager, think male,' said Sealy.

Men are often seen as being good at taking charge, strong at delegating and problem solving.

Because these latter qualities are more closely associated witheffective leadership, the perception can be that women leaders justdon't measure up to men, said Josefine van Zanten, global head ofdiversity and inclusion at oil company Shell, which has programs toattract, develop and promote women.

There is much more to be done to ensure that corporations, whichwere designed by Western, white men for Western white men, offer moreflexibility to ensure everyone is able to contribute to their highestpotential.

Big international companies already make efforts to try to promote diversity in terms of race and gender.

But the economic crisis has put traditional leadership qualities under greater scrutiny.

I think there is room, now that the old management style is inquestion, for new ways of managing, said Kelan, who is also a lecturerin work and organizations at King's College London.

Regardless of women bringing certain specific skills to leadership,other styles of leading will become more accepted which is a good thingfor women.